1050 Cardinal St NWSalemOR97304
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Salem at 1050 Cardinal St NW, Salem, OR, 97304 offers $2,581/mo rent that, after a $1,566/mo payment, leaves $650/mo cash flow. Total monthly income is $2,581/mo, and annual cash flow is $7,797/yr on $106,047 cash. Return on cash invested measures 27.26% in year one, and rental yield stands at 9.68% at a $319,900 entry. Equity gained on principal adds $2,064/yr while 5% annual appreciation compounds into $88,382 by year five. Five-year ROI records 142.08% and total cumulative return in cash reaches $150,668. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,581/mo property income versus a $1,566/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Condo
Built in 1968
435.60 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 97304, Salem, OR area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,298 (100%) |
| Owner Occupied HU | 9,012 (63.0%) |
| Renter Occupied HU | 4,744 (33.2%) |
| Vacant Housing Units | 542 ( 3.8%) |
| Median Home Value | $502,291 |
| Average Home Value | $545,006 |
Housing Distribution
Address Breakdown
Residential
13,298
Single Family
12,487
Multi-Family
811
Businesses
616
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